Middle Class to Get 23% of Tax Cuts for Individuals Under GOP BillBenefits mostly peter out after a decade, joint committee on taxation findsBy Siobhan Hughes andShayndi Raice

Middle-income households will get $61 billion in tax cuts in 2019 underthe Republican tax plan poised for passage this week, according to ananalysis released late Monday by Congress’s Joint Committee on Taxation.

This week, the House and Senate will vote on comprehensive, pro-growth,pro-family tax reform. The legislation, known as the Tax Cuts and JobsAct, will give families and individuals across the country tax reductionand simplification starting in 2018.

The legislation includes rate reduction and a doubling of the standarddeduction. Under this change, the first $12,000 for an individual and$24,000 for a family will be tax-free. The standard deduction is alreadyused by 105 million taxpayers across the country, who will see asignificant tax reduction.

In addition, the plan doubles the child tax credit to $2,000, helpingmillions of American families across the country. According to the mostrecent IRS data, more than 22 million people used the child tax creditin 2015.

While the bill is not perfect, it is indisputable that the Tax Cuts andJobs Act reduces taxes at every income level with the biggest benefitsbeing borne by the middle class.

Under Democrat control, Americans were hit with tax increases on theability of families to deduct medical expenses, tax increases on medicaldevices and prescription medicines, and tax increases on health savingsaccounts. The Left even imposed taxes on employer-provided andindividual health insurance, while imposing a tax for not purchasinghealth insurance.

The Tax Cuts and Jobs Act begins to reverse this by repealing this taxpenalty, known as the individual mandate, granting additional tax reliefto low- and middle-income families by eliminating one of the mostregressive taxes in the code. In tax year 2015, 6,665,480 householdspaid this tax. About 79 percent of these households had annual incomesbelow $50,000, and 37 percent of households that paid this tax hadannual incomes below $25,000.

Republicans promised to unrig the complex code and reduce taxes for themiddle class. Through the Tax Cuts and Jobs Act, they are delivering.Under this legislation, families across the country will see strong taxrelief and simplification just as President Trump and congressionalleaders have promised.